Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
In 2025, the losses from cryptocurrency ATM fraud in the United States reached $333 million. One contributing factor to the rise in such crimes has been the use of deepfake technology by perpetrators, which is based on artificial intelligence. This information was provided by experts from CertiK, a company specializing in blockchain security.
According to the research, criminal organizations are increasingly utilizing cryptocurrency ATMs due to their speed and relative anonymity. These devices enable the conversion of cash into cryptocurrency in under five minutes and often require minimal identity verification, making them a convenient channel for withdrawing illegally obtained funds.
“From January to November 2025, the Federal Bureau of Investigation (FBI) received over 12,000 complaints related to fraud involving cryptocurrency ATMs. This marks a 33% increase compared to the same period the previous year. The total losses for victims of such schemes in the U.S. reached $333 million,” the report authors stated.
The United States continues to be the largest market for cryptocurrency ATMs, accounting for approximately 78% of the roughly 45,000 terminals worldwide. Statistics indicate a consistent rise in such criminal activities:
-
2022 — approximately $78 million in losses;
-
2023 — around $114 million;
-
2024 — about $250 million.
Related Posts
Thus, over three years, the total amount of losses has increased more than fourfold, indicating a rapid escalation in criminal activity within this sector.
The most vulnerable demographic remains the elderly, with around 86% of losses affecting victims aged 60 and above. Experts attribute this to a combination of factors: the presence of savings, low awareness of cryptocurrencies, and social isolation. At the same time, fraudsters are increasingly targeting younger audiences using investment and romantic schemes.
Unlike phishing or attacks on cryptocurrency wallets, schemes involving ATMs are primarily based on social engineering. Scammers persuade victims to withdraw cash and convert it to cryptocurrency through the terminal. The blockchain only records the transfer of funds between addresses, not the identity of the sender, which significantly complicates investigations without access to terminal operator data.
The use of artificial intelligence raises particular concern. According to CertiK’s estimates, fraudulent schemes employing AI are approximately 4.5 times more profitable than traditional methods. This includes realistic deepfakes and personalized deception scenarios, where perpetrators gather information from social media and mimic the voice, appearance, or mannerisms of the victim’s acquaintances.
As a result, analysts note that the structure of the criminal market has shifted: instead of individual scammers, transnational criminal organizations are increasingly at play, making it considerably more challenging for law enforcement to combat them.
Previously, experts from BleepingComputer reported on a scheme involving the covert substitution of Bitcoin addresses under the guise of “profitable arbitrage” in cryptocurrency.
